The Indianapolis journal., 1887-11-13
ANOTHER GAS SYNDICATE
Dir. il. L. Pogue Buys Controlling In
terest in the Broad Ripple Company.
Indications that There Will Be lively Com
petition in the Gas Busness-The Trust
Company Raises Over 100000.

Natural-ga Company has been purchased by A.
l.. Pogue, of Richmond, and two or three In
dianapolis capitalists. They all hold about 60
per cent of the stock, and it is said stand ready
to purchase more from the holders who may
wish to retire from the company Mr.. Pogue is
wealthy. and has investments in water-works,
irrigating companies and cattle ranches, besides
holding large pieces Of real estate in lots and
farms in this State and elsewhere. He is said
to be thoroughly inbued with the spirit of enter
prise and a supreme confidence in the value of
the Broad Ripple gas territory. For several
days he has been inspecting the fields, but like
all others he has reached the conclusion that the
nearer one goes to Noblesville the better gas
lands will be found By this deal he and his
sociates have come into possession OF
the leases several thousand acres of
land. and these it is proposed to increase
at once in the direction of Noblesville. The
pipe-laying towards this city is to be pushed Wig
orously with the expectation of completing the
line to the city limits within ten days. This
promised. principally on account of the men de-
nanding $l.50 per day for digging the trench;
They stopped for short time but were induced
to resume work. No pipe of any consequence
has been laid as yet but it is On the ground.
Now that Mr.. Pogue has become the master
spirit of the enterprise his friends look for rad
1cal changes In the policy of the company. Inc
main object is to get to the city as quickly as
possible
The company has the third well, Wn1ch, IL
is claimed, is much better than the Dawson or
the Kimberlin. 1t is about a half mile south OF
east from the former. and yesterday was giving
a strong and steady flow of gas. Other wells
are to be put down by the new management as
rapidly as possible, with the hope OF having,
within few weeks a supply sufficient to meet
any considerable demands Eight miles OF pipe
for the city mains are on the way.
Quite a crowd of canvassers and subscribers to
the Consumers Gas Trust stock met at the
Board of Trade rooms, last night to hear the
pnF oft ha al n "a obtained.
Many of the canvassers who had not been heard
from heretofore turned in their books, the
amounts which increased the subscription
materially. Before they came in the amount
little above $3.50, 900, which the reports
during the day advanced good deal In the
evening 325 books had been reported. leaving
2i9 still in the hands of the canvassers Upon
the 325. the number of shares taken were
16 324. representing $408 100 This announcement
back, NJ S. Huey, E. B. Martindale and j. E.
McGe ttigan each promised to report s., coo addi-
tional. Worth Wright suggested that fifty men
volunteer to raise So, 900 each. So about twenty
new books were issued, and the canvass will be
renewed on Monday. Judge Lamb said they
were on the homestretch but no one need think
success was assured until the full amount
was raised To do this would require hard and
persistent work, but he had no doubt the $780,
900 in subscriptions would be in hand by next
Saturday night. The meeting adjourned with
the stron eest hopes that the coming week would
successful ending of the canvass.
The Prospect About Ft. Wayne.
Special to the Indianapolis journal
FIT WAYNE, Nov. 12-The success of the
Auburn gas well has had very stimulating
effect upon the two companies which have sunk
six wells and several thousand dollars in the sub
urbs of this city and struck but one we'll which
paid for the boring. The northern limit of the
Indiana gas belt had been placed at Montpelier.
thirty eight miles south of Ft. Wayne, yet the
Auburn well, situated twenty five miles north of
this city, shows gauge pressure of 200 pounds
per square inch in ten minutes, 800 pounds Ill
twenty minutes, and AGO pounds in
hour and the flow is said to be noticeably increas
ing 1t appears that instead of abandoning the
we'll when the first stratum of Trenton rock was
pierced and salt water struck. the water
was cased off and the drill sunk five hundred feet
further in a dry hole until Trenton rock yield
ing an abundance of gas was encountered. The
Peoples Natural-gas and Pipeline Company,
learning these facts, have raised 81, 900 more
money in the last few days, and when an ad
d1tionsl $500 shall have been su bscribed the we'll
on the Peltier farm will be deepened. and it is
thought that a new and more promising phase
may be put the much h-discussed project of
supplying Fort Wayne with natural gas.